Gandhinagar: Reliance Industries Chairman Mukesh Ambani on Sunday announced Rs 100,000 crore investment across businesses in Gujarat in the next 12-18 months.Â
Speaking at the inaugural session of the Seventh Edition of Vibrant Gujarat Global Summit (VGGS) – 2015, he said, “Each Vibrant Gujarat Summit has been a bigger success than the previous one, I have been fortunate enough to attend each one of them. We are proud to be a Gujarati company. We have invested in Gujarat time and again to convert a business vision into reality. I would request every investor to follow our steps, invest in Gujarat and benefit themselves.”
The investments will be in expanding petrochemical production capacity as well as in launch the much-awaited 4Gbroadband services while contributing to Make in India and Digital India initiatives.
Ambani, the world’s richest energy billionaire, speaking at the 7th Vibrant Gujarat Summit here, said Prime Minister Narendra Modi’s clarion call for boosting domestic manufacturing and job creation through Make in India campaign and Digital India initiative “have energised India and its enterprises”.
“We will invest over Rs 100,000 crore in the next 12-18 months in contributing to the Make-In-India and Digital India initiatives,” he said at the Summit inauguration function that was attended by Modi as well as top captains of industry and world leaders.
Ambani said as part of the investment programme, RIL will partner and enable thousands of small businesses and Gujarati entrepreneurs to create virtuous cycle of prosperity.
“India is marching forward with a clear vision to emerge as global power even when as most of the world is struggling with low growth.
“India can chart a path under our Prime Minister in the next few years to really become the fastest growing economy in the world. A goal that is possible to achieve,” he said.
RIL is investing in raising polyester capacity by some 60 per cent in aggregate across four locations, a new 1.5 million tonnes refinery off-gas based petrochemical cracker and downstream units in Jamnagar, enhancing refining profitability via petcoke (petroleum coke) gasification and reducing feedstock costs for petrochem by importing cheap US ethane.
Ambani said he attended all Vibrant Gujarat Summits and called Modi “a world leader the India is very proud of”.
Gujarat, he said, leads the country in achieving the Millennium Development Goals (MDGs) target.
“Reliance has been an inseparable part of Gujarat’s success story. Over the last three decades we have invested again and again to convert a business vision into a reality,” he said, calling upon fellow industrialists to follow the firm’s example.
Stating Reliance was determined to give back to Gujarat more and more, he said, “All of us will have to work in the spirit of partnership”.Â